The USD/CHF pair trades with mild gains to near 0.9100 during the early European session on Friday.
USD/CHF posts modest gains to around 0.9100 in Friday’s early European session. The US economy grew at a slower-than-expected pace in Q4. The safe-haven flows could support the Swiss Franc. The hawkish hold from the US Federal Reserve provides some support to the US Dollar . Investors will take more cues from the US December Personal Consumption Expenditures inflation data, which is due later on Friday. Also, Fed Governor Michelle Bowman is set to speak.
Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone. Why is the Swiss Franc considered a safe-haven currency? The Swiss Franc is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress.
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